Shares in Lufthansa, British Airways and Air France-KLM advanced 0.8%, 1.2% and 2.5% yesterday, respectively, but only Air France-KLM outperformed its local index. Lufthansa announced (24-Jun-09) plans to increase fuel surcharges on most services, effective 02-Jul-09 - a bold step given current economic conditions.

British Airways announced further adjustments to its Gatwick schedule this Winter, adding services to Bermuda (from five to six frequencies per week), Barbados (from nine to ten) and St Lucia and Port of Spain (from three to five), while services to Alicante, Palma, Malta, Madrid, Barcelona and Krakow will be suspended.

Another work stoppage by Greek air traffic controllers today (25-Jun-2009) will see Olympic and Aegean Airlines cancel 43 flights including several to international destinations. Aegean’s shares rose 1.5% yesterday.

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